Episode summary
House To Vote on Shutdown Deal; Gold Plunge Deepens as Traders Unwind Bets | Bloomberg Daybreak:...
Bloomberg Daybreak: US Edition
· · 15 min
Summary
Washington dominates the hour as the federal government stays in a partial shutdown while the House prepares to vote on a funding deal. The host says House Speaker Mike Johnson expects the impasse to end by Tuesday, while Democrats are pressing for new limits on immigration enforcement, including body cameras, warrant requirements, and agents not wearing masks. Bloomberg DC Breaking News editor Alexander Pearson says the negotiations remain stuck and that two weeks may not be enough to bridge the gap.
The Justice Department’s latest Epstein document release remains a major political flashpoint. Pearson says the department has now released roughly half of the material it holds, but Democrats argue the files should have been fully disclosed by December 19. The transcript also says the Wall Street Journal found some sensitive victim information may have been exposed despite the required redactions, adding to criticism of how the release was handled.
Markets are in a sharp risk-off move. Gold and silver are extending their biggest selloff in years after a record rally, while oil is slipping and AI-related stocks are under pressure after Nvidia’s Jensen Huang said the company’s proposed $100 billion OpenAI investment was never a commitment. Oracle is also lower after saying it plans to raise $45 billion to $50 billion this year for more cloud capacity.
Key takeaways
- The host says House Speaker Mike Johnson expects the shutdown fight to be resolved by Tuesday, but Democrats are still demanding stricter rules on immigration enforcement.
- Alexander Pearson says the Senate-passed funding bill gives only two weeks for talks, and that may not be enough time to settle the dispute.
- Pearson says the Justice Department has released about half of its Epstein files, but the law required full disclosure by December 19.
- The transcript says the Wall Street Journal found sensitive victim information may have been exposed in the Epstein release, intensifying criticism of DOJ handling.
- Gold and silver are still under heavy pressure after a record rally, with the host saying both metals are being hit by a broad risk-off move.
- Nvidia and Oracle are both under scrutiny as investors question whether huge AI infrastructure spending will pay off.
Notable quotes
“House Speaker Mike Johnson says the impass over government funding won't last long”
“We have to allow ICE to do its job. We have to allow Border Patrol to do its job. And we're going to make sure they have the funding to do that”
“the Democrats are making a series of demands, some of which the administration um has indicated uh you know, they would not accept”
“what we do know is that this represents about 50% of the files that the department holds”
“gold is now down about 20% from its all-time high”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager — And I'm Karen Moscow. Here are the stories we're following today. — Karen, we begin in Washington where the federal government is under a partial shutdown after the uproar over the killings of two US citizens under immigration enforcement in Minnesota. Democrats are demanding new restrictions on federal agents, including warrant requirements, body cameras, and removal of masks. House Speaker Mike Johnson says the impass over government funding won't last long.
Well, let's say I'm confident that we'll do it at least by Tuesday. We have a logistical challenge of getting everyone in town and because of the conversation I had with Hakee Jeff, I know that we've got to pass a rule and probably do this mostly on our own. I think that's very unfortunate.
House Speaker Mike Johnson appeared on NBC's Meet the Press. Minority Leader Hakee Jeff says the Department of Homeland Security needs dramatic reform. — We need to actually build these strict requirements in terms of behavior into the law so that the courts can hold them accountable and the American people through their representatives at the state and local level cano can hold these individuals accountable.
House Minority Leader Hakee Jeff was a guest on ABC's This Week and you can hear this week and Meet the Press every Sunday on Bloomberg radio. The Senate passed a bill last week that funds DHS for two weeks to allow more time to negotiate. The rest of the government would be funded through the end of September.
Nathan, the Democratic candidate for a Texas state senate seat in a conservative district near Dallas won a runoff election on Saturday, overcoming a late intervention from President Trump. Taylor Ramett defeated Republican Lee Wam's guns in the race for the seat in Taran County, which includes Fort Worth, getting 57% of the vote.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us government shutdown
- jeffrey epstein documents
- gold plunge
- silver selloff
- precious metals unwind
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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